A U.S. District Court judge has imposed a $14.25 million penalty to punish the company for violating the federal laws—the largest yet imposed in a Clean Air Act citizen enforcement suit.
Storebrand, a Norwegian asset manager, divested from miner Rio Tinto, as well as US oil giants ExxonMobil and Chevron, as part of a new climate policy targeting companies that use their political clout to block green policies.
Major hedge fund dumps oil companies for lobbying against climate action Read more
The lawsuit, filed in state court, alleges violations of state laws pertaining to consumer fraud, deceptive trade practices, and false advertising. Minnesota attorney general Keith Ellison says the companies devised plans to deceive the public about climate change science.
